| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 63rd | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 275 Portage Lakes Dr, Coventry Township, OH, 44319, US |
| Region / Metro | Coventry Township |
| Year of Construction | 1988 |
| Units | 21 |
| Transaction Date | 2005-07-08 |
| Transaction Price | $740,000 |
| Buyer | NATHANIEL PROPERTIES LLC |
| Seller | A G INVESTMENTS LTD |
275 Portage Lakes Dr Coventry Township Multifamily Investment
Neighborhood occupancy is strong and renter demand is supported by nearby employment and daily amenities, according to WDSuite’s CRE market data. Expect stable leasing fundamentals with balanced affordability and room for selective value-add.
The property sits in an Inner Suburb pocket of the Akron metro that is competitive among 180 metro neighborhoods (A- neighborhood rating). Neighborhood occupancy trends are solid, landing competitive among Akron neighborhoods and in the top quartile nationally, which supports revenue stability for multifamily owners.
Amenity access is favorable for daily needs: grocery and pharmacy availability rank above much of the metro and sit above national averages, while cafes and restaurants are also above typical national densities. Average school ratings are slightly above the national midpoint, providing a livability backdrop that can aid retention.
At the neighborhood level, roughly a third of housing units are renter-occupied, indicating a meaningful renter concentration and a consistent tenant base for smaller multifamily assets. Median contract rents are near the national midpoint with solid 5‑year growth, while a rent‑to‑income profile around the national middle suggests manageable affordability that can support lease stability.
The building’s 1988 vintage is newer than the area’s older housing stock (1960s average), positioning it as relatively competitive versus nearby properties; investors should still plan for system modernization and targeted common‑area and unit updates to capture rent premiums.
Demographic statistics aggregated within a 3‑mile radius show generally stable population levels with improving household incomes and a modest shift toward smaller household sizes. Over the next five years, projections indicate a slight population uptick and an increase in total households, which can expand the local renter pool and support occupancy.
Home values in this part of Summit County are lower than many national peers, creating a more accessible ownership market. For investors, that means rental housing competes with attainable entry‑level ownership; however, this context can also support retention where rentals offer convenience, updated finishes, or superior locations relative to comparable for‑sale options.
Safety indicators for the neighborhood are mixed relative to the Akron metro’s 180 neighborhoods and to national benchmarks. Overall crime levels track around the national midpoint, placing the area roughly average compared to neighborhoods nationwide.
Recent trend signals diverge: property offenses show improvement with a notable year‑over‑year decline (above‑average improvement nationally), while violent‑offense measures ticked higher over the last year and underperform many U.S. neighborhoods. For investors, this suggests monitoring near‑term trends while noting that current levels remain broadly comparable to national averages.
Nearby anchor employers help underpin renter demand through diverse sectors, offering short commutes that support leasing stability: Goodyear Tire & Rubber, FirstEnergy, Erie Insurance Group, J.M. Smucker, and Norfolk Southern.
- Goodyear Tire & Rubber — tires & manufacturing (5.0 miles) — HQ
- FirstEnergy — utilities (5.8 miles) — HQ
- Erie Insurance Group — insurance (11.6 miles)
- J.M. Smucker — food products (15.9 miles) — HQ
- Norfolk Southern Motor Yard — rail logistics (23.2 miles)
This 1988 asset offers a relative age advantage versus much of the surrounding 1960s-era stock, supporting competitive positioning with measured capital planning for systems and cosmetic upgrades. Neighborhood fundamentals are favorable for a 20–50 unit strategy: occupancy is competitive among Akron neighborhoods and in the top quartile nationally, and a meaningful share of renter‑occupied housing supports a stable tenant base. According to CRE market data from WDSuite, rents sit near national norms with steady multi‑year growth, and rent levels relative to incomes point to balanced affordability that can help sustain retention.
Within a 3‑mile radius, demographic patterns indicate generally steady population with an expected increase in households and gradual downsizing, expanding the renter pool over time. Local ownership costs remain comparatively accessible, which can create some competition with entry‑level for‑sale options; however, units that deliver convenience and refreshed finishes can differentiate and maintain pricing power.
- Occupancy competitive metro-wide and top‑quartile nationally supports cash‑flow durability
- 1988 vintage offers relative age advantage with targeted value‑add and system upgrades
- Renter concentration and nearby employers underpin demand and retention
- Balanced rent‑to‑income dynamics aid lease stability with room for selective premium capture
- Risk: accessible ownership alternatives and mixed safety trends may limit pricing power; focus on renovations and operational execution